Technical Analysis is .......to my trading...

TA is________________

  • somewhat useful.

    Votes: 8 16.3%

  • ESSENTIAL. I use it almost exclusively.

    Votes: 24 49.0%

  • USELESS bunch of Horse manure. Price Action is KING!!

    Votes: 11 22.4%

  • Use it when it supports what I think will happen

    Votes: 3 6.1%

  • I dont know.

    Votes: 3 6.1%
  • Total voters
    49
  • Poll closed .
Good to see that it seems the majority of ET uses TA in some fashion. I have been in other forums and all I ever see is ridicule for those of us that do use it. I use it as 95% of the basis for my trading.
 
Quote from N54_Fan:

Fill in the blank.


TA is __________.
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TA is one of the many tools I use to determine whether I should open or close a position.

I see constant threads that TA doesn’t work but have never seen an example of how it doesn’t work. TA is a tool. It’s like saying a hammer doesn’t work.
 
Quote from N54_Fan:

Good to see that it seems the majority of ET uses TA in some fashion. I have been in other forums and all I ever see is ridicule for those of us that do use it. I use it as 95% of the basis for my trading.
More...

ET is full of people who think TA "doesn't work" too.

But to me that saying is like saying "hammer and screwdriver don't work". :p

Just the tool. It's skills of the master are what makes the difference.
 
TA works and it works quite well.

The problem is in the interpretation.

Waiting for something special to occur and catch a side defenseless, when they need to throw the towels, their pain is your gain.

Direction is everything but it is not always crystal clear.

Waiting for clarity first is key yet people think they can see clarity in every minuscule turn.

Patience, clarity and risk management.
 
Quote from anglagard:

TA works and it works quite well.

The problem is in the interpretation.

Waiting for something special to occur and catch a side defenseless, when they need to throw the towels, their pain is your gain.

Direction is everything but it is not always crystal clear.

Waiting for clarity first is key yet people think they can see clarity in every minuscule turn.

Patience, clarity and risk management.
More...

I agree. Clarity and quality are the keys. Sometimes it's just a thing of beauty, as was the case on Friday early European session. :)

http://www.cornixforex.com/?p=147
 
Quote from anglagard:

TA works and it works quite well.

The problem is in the interpretation.

Waiting for something special to occur and catch a side defenseless, when they need to throw the towels, their pain is your gain.

Direction is everything but it is not always crystal clear.

Waiting for clarity first is key yet people think they can see clarity in every minuscule turn.

Patience, clarity and risk management.
More...

Well stated.
 
Disagree. Why is looking at a price chart technical analysis? And who says so other than you? Someone may just want to see where current price trades relative to yesterday's. Same can be done with pure numerics on a spread sheet and that can hardly be called TA. Some just prefer a quick visual over statistical output. In statistics it's called "percentiles" by the way and has nothing at all to do with technical analysis.

Or imagine one wants get a quick read at volatility. A glance at a chart can reveal volatility levels and that has also nothing to do with technical analysis.

You see that even using past/historical prices does not necessarily mean one engages in TA.

wrbtrader said:
Price action trading is a trader that does not use technical indicators or technical studies for trade decisions based upon price action analysis.

There are primarily three basic groups of traders that are price action trading.

1) Traders that use charts...sometimes this is refer to as chart reading of price patterns or key price areas without indicators. This is technical analysis without using indicators.

2) Traders that use time & sales/bid & ask screens...sometimes this is refer to as tape reading involving order flow without charts. This is not a form of technical anlaysis.

3) Traders that use both of the above as in charts and time & sales/bid & ask screens without indicators.

Simply, if you're using a chart with or without indicators...you're using TA. Also, if you're using a chart or bid & ask screens without indicators...you're a price action trader. Therefore, if someone thinks TA is useless while using charts for trade decisions...that's a confused trader. Just the same, traders that refers to themselves as price action traders while using at least one indicator...that's a confused trader.

For those that don't know what are technical studies (indicators), these are price moving averages, macd, cci, rsi, stochastics, bollinger bands, adx and hundreds more indicators I don't want to spend any time mentioning.
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Why majority? The majority of ET consists now of 3 or 4 TA poster boys? If I may dare to offer a suggestion to you: proper analysis and an honest approach to probability theory and the brain capability to draw logical and coherent conclusions will not only help you understand that your conclusions of this post of yours suffer from several fallacies but it will greatly help your approach to trading as well.

N54_Fan said:
Good to see that it seems the majority of ET uses TA in some fashion. I have been in other forums and all I ever see is ridicule for those of us that do use it. I use it as 95% of the basis for my trading.
More...
 
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